Uber co-founder Travis Kalanick has secured a $1.7 billion debt and equity funding deal for his latest venture, Atoms, which aims to build a “computer for the physical world” by combining artificial intelligence and robotics.
The funding round is backed by venture capital firm Andreessen Horowitz and Uber, along with support from banks including Goldman Sachs and JPMorgan. Ben Horowitz, co-founder of Andreessen Horowitz, will join Atoms’ board as part of the investment.
Kalanick said the funding will help Atoms develop advanced robotics systems to automate industrial processes across sectors such as mining, construction, heavy transport, and food production. He described industrial AI as a technology that could drive the next major transformation in industries worldwide.
The company, previously known as City Storage Systems, was renamed Atoms in March as Kalanick shifted focus towards digitising physical industries through automation and robotics.
Horowitz said Atoms represents Kalanick’s long-term vision of transforming traditional industries through technology, combining software, engineering, and robotics.
Kalanick has launched several ventures since leaving Uber in 2017 following leadership controversies. He continues to run CloudKitchens, a food delivery-focused kitchen network. His latest investment comes as the technology sector sees rapid growth in AI, automation, and robotics, while Uber faces increasing competition from autonomous vehicle companies.
